Friday 15 August 2014

EUR/USD Formed a Second Doji in the Daily Filter




Imagine my pleasant surprise when I woke up this morning, took a look at the EUR/USD chart and discovered that the daily candlestick closed last night forming a second doji. Admittedly, the doji candlestick might mean both  reversal or a break before the trend continues (it all depends on the candlestick that follows) but considering the strong support at the 1.3330 level, the double bottom and the two doji I am still convinced that in this case it means a reversal.

Yesterday’s long positions reached their take profit level and today I am thinking I should place new ones.

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